Braze, Inc. (NASDAQ:BRZE) Major Shareholder Sells $1,720,244.10 in Stock

Braze, Inc. (NASDAQ:BRZE) major shareholder Roger H. Lee sold 56,830 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $30.27, for a total value of $1,720,244.10. Following the transaction, the insider now owns 56,830 shares of the company’s stock, valued at approximately $1,720,244.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Braze Trading Down 3.0 %

Braze stock opened at $30.69 on Thursday. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -23.98 and a beta of 1.03. The firm’s fifty day moving average price is $37.29 and its two-hundred day moving average price is $38.97. Braze, Inc. has a 1-year low of $29.18 and a 1-year high of $61.53.

Braze (NASDAQ:BRZE) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.12. The business had revenue of $145.50 million for the quarter, compared to analysts’ expectations of $141.32 million. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) EPS. On average, research analysts forecast that Braze, Inc. will post -1.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Comerica Bank raised its position in Braze by 29.4% in the 1st quarter. Comerica Bank now owns 1,216 shares of the company’s stock valued at $54,000 after buying an additional 276 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Braze by 2.2% in the second quarter. Blair William & Co. IL now owns 12,928 shares of the company’s stock valued at $502,000 after purchasing an additional 283 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Braze by 17.8% in the first quarter. Advisors Asset Management Inc. now owns 1,917 shares of the company’s stock valued at $85,000 after purchasing an additional 290 shares during the last quarter. American International Group Inc. lifted its position in shares of Braze by 1.2% during the first quarter. American International Group Inc. now owns 26,369 shares of the company’s stock valued at $1,168,000 after purchasing an additional 310 shares in the last quarter. Finally, Creative Planning boosted its holdings in Braze by 1.7% during the second quarter. Creative Planning now owns 23,121 shares of the company’s stock worth $898,000 after purchasing an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BRZE shares. UBS Group lowered their target price on shares of Braze from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Oppenheimer decreased their price objective on Braze from $60.00 to $51.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Scotiabank upgraded shares of Braze from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $48.00 to $56.00 in a research report on Wednesday, July 10th. TD Cowen reduced their price objective on shares of Braze from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Finally, Barclays lowered their price target on Braze from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Eighteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $58.53.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.